Yesterday CELG bought out RCPT for a price that I’d call is ‘throw-away cheap’. CELG is up almost 9% today and RCPT is up ~50% from when I recommended. If you missed it, CELG also announced its preliminary Q2 results, with a beat on both top & bottom line; along with raising its full year guidance. At hardly 21-22x forward P/E (with persistent 25% growth - comes with similar top line growth) and with new potential billion dollar drugs in late stage trials, we bought some more at 132 today.

With our 2015 end target of $158, I’d say..add on! Caching!

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